Venmo, which was founded in 2009 and is owned by PayPal, is a safe, simple, and social peer-to-peer mobile payment app that allows users to send and receive money fast, as well as make purchases online or in-person via the mobile app.
Despite the fact that Venmo is highly popular among its users for what it essentially provides, which is the ability to send, receive, and shop online with it. However, most Venmo users are unaware that more can be done with the mobile app.
This article will answer one of the most often asked Venmo questions: “Can I cash checks with Venmo?” If that’s the subject of you being here, you’ve come to the correct place because I’ll explain if it’s possible to deposit checks with Venmo, how it works, what kind of checks you can cash, and so on.
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Can You Cash a Check With Venmo
Yes, Every Venmo user can now cash and deposit checks using the Venmo app. Although this is a feature not known by every Venmo user out there, Venmo now has a check-cashing feature that ensures users can now instantly cash/deposit checks using their smartphone camera via the Venmo mobile app.
You should have in mind that to make use of the Venmo check deposit service, you must have completed the required identity verification by applying for the Venmo Debit Card or Setting Up Direct Deposit.
Is It Safe to Cash a Check With Venmo?
Cashing a check on Venmo is entirely safe, however, you want to make sure that you have done all the Venmo identity verification so that you are able to take your money out…
How Does Cash a Check With Venmo Work?
Using the Cash a Check feature in the Venmo app on your mobile device, you can cash checks and have the funds credited to your Venmo account within an hour or less. You just need to take a picture of the check you want to cash and submit it for review.
If your check is accepted, you have the option of paying a fee to have the funds credited to your Venmo account immediately, or if you don’t need the money right away and the check isn’t returned as unpaid, you can have your money for free in 10 days.
What Kind of Checks Does Venmo Cash?
Venmo accepts most check formats as long as the check value is between $5.00 and $5,000.00 and is made payable to you, endorsed by you, and drawn on a bank account in the United States or one of its territories. This includes;
- Payroll and government checks with a pre-printed signature.
- Business checks.
- Two-party personal checks.
- Handwritten payroll checks.
- Insurance checks.
- Attorney checks.
- Cashier’s checks.
- Money orders.
- Rebate checks.
- Refund anticipation checks.
What Type of Checks Does Venmo Not Cash?
Venmo, as a general rule, does not accept these types of checks;
- Conditional endorsement checks.
- Counter checks.
- Traveler’s checks.
- Credit card checks.
- Customer appreciation certificates.
- Gift certificate checks.
- Starter checks.
- Warrant checks.
- Checks that aren’t made payable to you.
What Is the Venmo Cash a Check Limit?
You can cash checks ranging from $5 to $5,000. Users, on the other hand, can submit numerous checks totaling no more than $5,000 per day and $15,000 per month. Not to mention that all checks must be approved.
How Much Does Venmo Charge to Cash a Check Instantly?
To cash a check and receive your money instantly, the typical fee for a government or payroll check with a preprinted signature is 1% or a $5 flat fee, while all other checks are 5% or a $5 fixed amount. Meanwhile, there is no charge if you choose the 10-day delayed funding option.
How Long Does It Take to Cash a Check With Venmo
When you snap both sides of your about-to-be cashed check and submit it to Venmo for review, It takes a few seconds for it to be reviewed, in some cases, it can take between 3-5 minutes, and in rare circumstances, up to an hour.
Upon approval, the depositing of the checks to your provided account usually does not take long as it always happens in instant. But there are cases when it might take a few minutes or sometimes an hour, which isn’t always the case.
What Do I Need to Cash a Check With Venmo?
To cash a check using Venmo much isn’t required, Nevertheless, you cant cash a check on Venmo without these things;
- Venmo Account:
To cash a check with Venmo, you will be required to create an account if you don’t already have one. This is also where the funds equivalent will be sent when the check is approved.
- Physical Check to cash:
Cashing a check with Venmo without having the physical check, is like trying to eat food without having any food. To cash a check on the Venmo app you need the physical check to be with you, so you can be a snap it when required.
- Working Camera:
Before submitting your check to Venmo for reviewing and approval, you will need to use your device camera to take a picture of both sides (front and back) of the checks. Therefore you need your camera to be in good order.
After taking a picture of the check you are to cash on Venmo and uploading it for approval, of approval you will be asked to write “VOID” across the front of your check and submit another photo showing it has been voided and this can only be done with a pen.
How Can I Cash a Check With Venmo?
Cashing checks with Venmo is a simple process; however, it may not appear as effortless to a first-time user as it does to a frequent user; simply follow the steps stated below to cash your check as a new user:
- Open the Venmo app, then tap the three-line menu button.
- Click on your picture or initials and go to the “Me” tab.
- Click on “Manage Balance.”
- Select “Cash a Check.”
- Verify your information. (ignore if verified)
- Enter the amount. (should tally with what you have on the about-to-be cashed check)
- With the in-app camera take a picture of the front and back sides of the check, then click “Next.”
- Next, Select when you want the funds available (“In Minutes – fees applied” or “in 10 days.”)
- Wait for the check approval. (usually takes only a few seconds to review, sometimes 10-15 minutes, and in rare circumstances, up to 1.5 hours.)
- If your check is approved, You will be prompted to write “VOID” across the front of the check and submit another photo showing it has been voided. (Don’t write VOID, until you are prompted to do so.)
If you followed the outlined steps above correctly and your check was approved, you should see a confirmation page verifying the amount of the money that will be transferred and made available in your Venmo account.
Nevertheless, If you still find issues after following the steps outlined above, please double-check or contact Venmo customer care.
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Are 3rd-Party Checks Accepted On Venmo Cash a Check?
No, Third-party checks are not accepted. This is due to the fact that a check deposited into a Venmo account can only be payable to the account’s owner.
Can You Cash a Personal Check With Venmo?
Yes, You can deposit personal checks to Venmo including two-party personal checks as long as they are not made out to “cash.”
Can I Cash a Business Check With Venmo?
Yes, you can cash a business check with Venmo. This is because Venmo accepts any form of business checks from all banks as long as they are not made out to “cash.”
Can I Cash My Stimulus Check With Venmo?
Yes, you can cash your stimulus check using the Venmo cash a check service. If you received paper stimulus checks you can quickly deposit the money using Venmo’s cash-a-check feature for free, without ever leaving the house.
How to Cash Stimulus Check With Venmo?
Cashing my stimulus check with Venmo is the same procedure for cashing every other check when using the app cash a check feature. You can a stimulus check by;
- Take a picture of both sides of the checks.
- submit it for review and approval.
- Choose when you want to receive your cash.
- Have your money available in your Venmo account.
Can I Use Ingo Check Cashing With Venmo?
Yes, you can use Venmo with the Ingo check cashing tool. This is also a possibility because Venmo’s check-cashing operation is legitimately supported by ingo money technology.
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Conclusion on How to Cash a Check Online With Venmo
If you’ve made it this far, I hope your questions about cashing a check with Venmo have been answered. So, as promised at the beginning of this article, I am confident that you now have an accurate understanding of whether or not cashing a check using Venmo is possible, how it works, the requirements, charges, and everything else.
As a result, if you found this post useful in any way, please share it with your friends and others who may benefit from it. Cheers!